Sea $6.9 billion concurrent convertible notes and equity offerings
Davis Polk advised the joint book-running managers in connection with concurrent SEC-registered offerings by Sea Limited of $2.875 billion aggregate principal amount of its 0.250% convertible senior notes due 2026, as well as an aggregate of 12,650,000 American depositary shares at a price to public of $318.00 per ADS.
Sea Limited is a leading global consumer internet company founded in Singapore in 2009. Its mission is to better the lives of consumers and small businesses with technology. Sea Limited operates three core businesses across digital entertainment, e-commerce, as well as digital payments and financial services, known as Garena, Shopee and SeaMoney, respectively. Garena is a leading global online games developer and publisher. Shopee is the largest pan-regional e-commerce platform in Southeast Asia and Taiwan. SeaMoney is a leading digital payments and financial services provider in Southeast Asia.
The Davis Polk corporate team included partner James C. Lin and registered foreign lawyers Jennifer (Yujia) Jiang, Allie Ma and Sangsoo (Eddie) Lee. The equity derivatives team included partner Yan Zhang and associates Danielle Forni and Daniel Yu. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.